Answer:
C. Debit Cash $1, 385: credit sales $1, 300: credit Cash Over and Short $85.
Explanation:
Based on the information given The proper entry to account for this excess is:
Debit Cash $1,385
Credit Sales $1,300
Credit Cash Over and Short $85
($1,385-$1,300)
Answer:
Diane may search the passenger compartment of the car and any place else in the car, including the trunk, without Tim's consent. ⇒ TRUE
Explanation:
The Fourth Amendment of the Constitution protects people against illegal searches, seizures and warrants, but there are exceptions to this amendment:
- consensual searches: if the person is OK with the police officer searching his/her belongings
- brief investigatory stops: when the police officer is suspicious about a crime being committed
- searches incident to a valid arrest: if the police officer is arresting someone, he/she is allowed to search him
- seizures of items in plain view: if property is in plain view, the police officer does not need a warrant. ⇒ this exception applies to this case.
Answer:
LIFO Periodic method
Explanation:
The LIFO means Last In First Out this means that item that have been stocked today would be sold first although there’s still some inventory from previous periods.
Using LIFO would result in lower ending inventory because closing inventory would be valued at low price which they had been bought assuming that there’s now a hick in price and goods in the warehouse were stocked when prices were low.
LIFO is used for the manipulation of profit.
Answer:
30,000 units
Explanation:
we can use the economic order quantity formula:
EOQ = √(2SD/H)
where:
- S = order cost (per purchase order) ≈ production run cost = $900
- D = demand in units (annual basis) ≈ production requirement = 1,500,000 units
- H = holding costs (per unit, per year) = $3 per item, per year
EOQ = √[(2 x $900 x 1,500,000) / $3] = 30,000 units
The answer is d, you should always consider everything before signing your job contract
